Bitcoiners woke up to a pleasant surprise on Tuesday, May 9 as the price per bitcoin once again touches new levels. The decentralized currency continues to trade higher as bitcoin’s fiat value is currently up over 15 percent with an average price of US$1720 per BTC.

Just when traders thought the rally was getting exhausted, bitcoin’s price pushed up once again after remaining stable in the $1520-40 range for roughly 72 hours earlier this week. During the early hours of May 8 coincidently after the French election, bitcoin’s price shot up above the $1600 range and continued to climb all day. Now bitcoin has hit another all-time high touching $1750 per BTC at 8 am EST.

Today's price for Bitcoin generally beats all records within a few days, even there is a very big increase to growth. On the one hand, this is all expected and on how it happened, but on the other hand there is something to be alarmed, because as statistics show last year for rental frost there should be a similar collapse.

We need to be alarm if there is a panic selling that is going to happen soon. But I think the price of bitcoin looks pretty solid to me. If there is such panic, and the price fall, it has the ability to recover because the Japanese influence is still there because they have adopted it.

Bitcoiners woke up to a pleasant surprise on Tuesday, May 9 as the price per bitcoin once again touches new levels. The decentralized currency continues to trade higher as bitcoin’s fiat value is currently up over 15 percent with an average price of US$1720 per BTC.

Just when traders thought the rally was getting exhausted, bitcoin’s price pushed up once again after remaining stable in the $1520-40 range for roughly 72 hours earlier this week. During the early hours of May 8 coincidently after the French election, bitcoin’s price shot up above the $1600 range and continued to climb all day. Now bitcoin has hit another all-time high touching $1750 per BTC at 8 am EST.

People are moving out of Alts into Bitcoin. There was a top in the Altcoin market a few days ago, and the Direction of the Alts are changing. There is a Bearmarket in Altcoins starting. The Alts have not been reaching there previous highs leaving buyers with no support for the previous higher price in other words the Alt bubble is busting causing people to exchange Alts for Bitcoin. When people begin to realize this Bitcoin will surge because the Alt market caps will hpld Bitcoin.

Bitcoin will surge a top should not be reached until a significant amount of Alts have lost a major amount of their Market caps and I mean Major !

We need to be alarm if there is a panic selling that is going to happen soon. But I think the price of bitcoin looks pretty solid to me. If there is such panic, and the price fall, it has the ability to recover because the Japanese influence is still there because they have adopted it.

If the price corrects at some point (it definitely will), then the price will recover again, as it has always done. It's the overall demand that keeps pushing Bitcoin towards newer highs, and it will likely continue to do so in the coming years. I definitely think that we'll smash through the $10,000 level at some point. Don't forget that Bitcoin is still just a tiny "object" in the financial world. Potential growth is tremendous -- HODL!!